Selling real estate is more complicated than many may think. One need only attempt to sell a property on his or her own to realise the many benefits of involving a trained and qualified real estate practitioner right from the very start.
Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa, said that real estate is among the most undervalued professions, as many falsely believe that it is easy to sell a property.
“It takes years to build up a database of potential buyers that can be matched to a home. Beyond that, there are so many variables at play that affect the listing price as well as the whole sales transaction after an offer has been received.
“Those without the industry experience or expertise to navigate these processes can end up costing themselves either in the resultant sales price or in additional costs resulting from following procedures incorrectly,” he warns.
To further elaborate on the importance of working through a professional, RE/MAX of Southern Africa lists four main reasons why it is beneficial to work through a real estate practitioner instead of attempting the sale on one’s own.
Achieve a higher asking price
Agents are often able to achieve a far higher selling price than those who sell their homes themselves. In an attempt to avoid paying commission, sellers often end up losing more on the asking price than if they had worked through an agent and paid the commission.
Agents are better able to close a sale for the home’s full value because they have the experience and resources to price the home appropriately.
They also have a network of buyers to make sure they take advantage of the new-to-market appeal and do not allow the home to sit on the market for too long.
Homes that remain on market for too long statistically achieve lower asking prices, as sellers often have to reduce the price to appear higher on property portals search results and attract new buyers.
Better negotiation skills
A property sale is probably one of the biggest deals that a seller will make in their lives, so why not use a seasoned professional with honed negotiating skills?
Agents make deals and negotiate every day of their lives, so it is likely they will get a better deal for the seller than if the seller handled it themselves.
Save time by delegating to a professional
Sellers need to keep in mind that listing a home online is not the only step in the sales process. They will need to devote many hours of their day dealing with potential buyers and arranging appointments if they do not involve an agent.
An agent can also screen potential buyers, help sellers to prepare for home inspections and ensure that the whole sales process is handled efficiently.
Get professional advice for a smooth transaction
Selling a home is a complicated endeavour that involves plenty of legally binding documents that could lead to some unforeseen circumstances if completed incorrectly.
An agent will know the ins and outs of what is required and can steer sellers away from making costly mistakes.
Goslett advised sellers that the best way to realise the benefits of using a real estate professional is to partner with the best in the business.
“Choosing an agent can be difficult. Be sure to ask the right questions to find out who would have the best chance of selling your home in the fastest amount of time and at the highest possible value.
“Questions you should ask include whether the person is qualified with a valid FFC and registered with the EAAB / PPRA that regulates the industry, does the agent have a proven track record of completed sales, and, most importantly, is the agent affiliated with an established brand whose resources can be tapped into in to help sell the home in the quickest amount of time?
“If the answer is yes to all these questions, then you should have plain sailing when it comes to selling the property,” Goslett concluded.
